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Accounts - Principles of Accounts 1992 WAEC Past Questions

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6
Which of the following is not a book of prime entry?
  • A. cash book
  • B. puchases day book
  • C. sles day book
  • D. journal paper
  • E. purchases ledger
View Answer & Discuss WAEC 1992
7
Adex Company Limited issued ordinary shares N1 each to the public at N1.20. The statement were issued at
  • A. a discount
  • B. a profit
  • C. a loss
  • D. par
  • E. a premium
View Answer & Discuss WAEC 1992
8
A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. How much is charges to the profit and loss account for 1990?
  • A. N1,350
  • B. N1,080
  • C. N338
  • D. N270
  • E. N90
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9
A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. How much is carried in the Balance Sheet at 31st December 1990?
  • A. N1,350
  • B. N1,080
  • C. N338
  • D. N270
  • E. N90
View Answer & Discuss WAEC 1992
10
A trader paid insurance premium of N1,350 for 15 months ended 31st March 1991. He prepares to 31st December. The amount carried in the Balance Sheet is classified as
  • A. current asset
  • B. current liabilities
  • C. investment
  • D. fictitious asset
  • E. reserve
View Answer & Discuss WAEC 1992
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